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SOLUTIONS TODAY FOR A BETTER TOMORROW THE ALTOONA PUBLIC LIBRARY FOUNDATION
Q Will the donor receive recognition when making a gift to the Foundation? The donor has the option of designating the manner in which the gift is to be received by the Foundation. The gift or bequest may be received in anonymity, in the name of the donor, or in the name of whomever the donor designates. Q What types of gifts or bequests may be made to the Altoona Public Library Foundation? Anything of intrinsic value may be gifted. Real estate – including farms, stocks, bonds, mortgages, debentures, annuities, life insurance policies, and cash, are the most common forms. Gifts of any size can be made. Q What interests in property may be conveyed to the Foundation? Several: a. The interest may be complete, as the fee to real estate or the full ownership of securities. b. This may be a remainder interest subject to tax law limitations. c. The interest may be contingent upon the happening of some event, as the death of donor or a beneficiary. d. The Foundation may be named as beneficiary under a life insurance policy, outright, in remainder, or upon a contingency as above.
EXPANDING SERVICES
The mission of the Altoona Public Library Foundation is to advocate and raise funds for the Altoona Public Library. Gifts made to the Foundation are administered by the Foundation Board of Directors. Board of Directors: Jon Aldrich, Jeanie Conkling, Tina Hadden, Dave McBride, Kara Ohorilko, Ken Sand and Yvonne Welshhons. All board actions must be approved by the Altoona Library Board of Trustees. The Altoona Public Library Foundation was created in 2005 to accept and administer gifts and bequests for charitable purposes on behalf of the Altoona Public Library. The Altoona Public Library Foundation is recognized by the IRS. This assures all donors a charitable donation when gifts are accepted within the tax law limitations. A copy of the IRS ruling is available to anyone requesting one. How Donors May Use The Altoona Public Library Foundation * * * Donors may leave money to the Foundation for the benefit of the Altoona Public Library in two ways:
1. For Unrestricted Purposes –Unrestricted funds are very useful since they make it possible for the Foundation Board of Directors to take note of changing conditions and needs and to assist with emergencies. 2. For Special Needs or Projects. Bequests or gifts may be designated for special projects: Ø Annual Literacy Festival Ø Summer Reading Program Ø New Materials Ø New Equipment Ø Projects or Programs
Who Can help arrange for a gift? If you have a professional with whom you’re working, like a financial planner, lawyer, accountant or insurance agent, please talk with him or her about leaving a gift for the benefit of the Altoona Public Library. A professional can tell you about the tax benefits of planned gifts. You may also contact the Board of Directors of the Altoona Public Library Foundation.
A 501 (c) (3) organization
Board of Directors Altoona Public Library Foundation 700 Eighth Street SW Altoona, Iowa 50009 (515) 967-3881
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